MSCI Emerging Markets Index

(USD)
The MSCI Emerging Markets Index captures large and mid cap representation across 23 Emerging Markets
(EM) countries*. With 835 constituents, the index covers approximately 85% of the free float-adjusted market
capitalization in each country.
Cumulative Index Performance Price Returns
(Jun 1999 Jun 2014) USD
Jun 99 Sep 00 Dec 01 Mar 03 Jun 04 Sep 05 Dec 06 Mar 08 Jun 09 Sep 10 Dec 11 Mar 13 Jun 14
50
100
200
300
MSCI Emerging Markets
MSCI ACWI
MSCI ACWI IMI
253.93
159.52
143.93
Annual Performance (%)
Year
MSCI
Emerging
Markets
MSCI
ACWI
MSCI
ACWI IMI
2013 -4.98 20.25 21.07
2012 15.15 13.43 13.77
2011 -20.41 -9.41 -9.87
2010 16.36 10.42 12.14
2009 74.50 31.51 33.35
2008 -54.47 -43.54 -43.65
2007 36.46 9.64 9.24
2006 29.18 18.78 18.90
2005 30.31 8.83 9.64
2004 22.45 13.30 14.57
2003 51.59 31.62 33.27
2002 -7.97 -20.51 -18.77
2001 -4.91 -17.26 -16.66
2000 -31.80 -15.08 -16.11
Index Performance Price Returns (%)
(June 30, 2014)
Annualized
1 Mo 3 Mo 1 Yr YTD 3 Yr 5 Yr 10 Yr
Since
May 31, 1994
MSCI Emerging Markets 2.25 5.64 11.75 4.80 -2.86 6.66 9.29 3.83
MSCI ACWI 1.71 4.31 20.50 4.94 7.85 11.85 5.26 5.18
MSCI ACWI IMI 1.96 4.14 20.98 5.04 8.04 12.41 5.67 5.24
Fundamentals
(June 30, 2014)
Div Yld (%) P/E P/E Fwd P/BV
2.72 12.90 10.51 1.53
2.46 17.41 14.44 2.08
2.39 18.11 14.78 2.05
Index Risk and Return Characteristics
(June 30, 2014)
Annualized Std Dev (%)
2
Sharpe Ratio
2,3
Maximum Drawdown
Turnover
(%)
1
3 Yr 5 Yr 10 Yr 3 Yr 5 Yr 10 Yr
Since
May 31,
1994
(%) Period YYYY-MM-DD
MSCI Emerging Markets 5.68 19.57 19.20 23.74 -0.06 0.42 0.42 0.33 66.05 2007-10-292008-10-27
MSCI ACWI 2.53 14.36 15.09 16.60 0.58 0.81 0.28 0.18 59.61 2007-10-312009-03-09
MSCI ACWI IMI 2.86 14.53 15.24 16.83 0.59 0.83 0.30 0.20 59.78 2007-10-312009-03-09
1
Last 12 months
2
Based on monthly price returns data
3
Based on BBA LIBOR 1M
* EM countries include: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Russia, Qatar, South Africa, Taiwan,
Thailand, Turkey and United Arab Emirates.
The MSCI Emerging Markets Index was launched on Jun 30, 1988. Data prior to the launch date is back-tested data (i.e. calculations of how the index might have performed over that time period had the
index existed). There are frequently material differences between back-tested performance and actual results. Past performance -- whether actual or back-tested -- is no indication or guarantee of future
performance.
June 30, 2014
MSCI Emerging Markets Index
www.msci.com | clientservice@msci.com
About MSCI
MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indexes, portfolio risk and performance analytics,
and ESG data and research.
The company's flagship product offerings are: the MSCI indexes with approximately USD 9 trillion estimated to be benchmarked to them on a worldwide basis
1
; Barra multi-asset class factor models, portfolio risk and performance analytics;
RiskMetrics multi-asset class market and credit risk analytics; IPD real estate information, indexes and analytics; MSCI ESG (environmental, social and governance) Research screening, analysis and ratings; and FEA valuation models and risk
management software for the energy and commodities markets. MSCI is headquartered in New York, with research and commercial offices around the world.
1
As of March 31, 2014, as reported on June 30, 2014 by eVestment, Lipper and Bloomberg.
The information contained herein (the "Information") may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI. The Information may not be used to verify or correct other data, to create indexes, risk
models, or analytics, or in connection with issuing, offering, sponsoring, managing or marketing any securities, portfolios, financial products or other investment vehicles. Historical data and analysis should not be taken as an indication or guarantee of
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strategy. Further, none of the Information or any MSCI index is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. The Information is
provided "as is" and the user of the Information assumes the entire risk of any use it may make or permit to be made of the Information. NONE OF MSCI INC. OR ANY OF ITS SUBSIDIARIES OR ITS OR THEIR DIRECT OR INDIRECT SUPPLIERS
OR ANY THIRD PARTY INVOLVED IN THE MAKING OR COMPILING OF THE INFORMATION (EACH, AN "MSCI PARTY") MAKES ANY WARRANTIES OR REPRESENTATIONS AND, TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH
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(INCLUDING LOST PROFITS) OR ANY OTHER DAMAGES EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. The foregoing shall not exclude or limit any liability that may not by applicable law be excluded or limited.
2014 MSCI Inc. All rights reserved.
Index Characteristics
MSCI Emerging Markets
Number of
Constituents
835
Mkt Cap
(USD Millions)
Index 4,105,045.84
Largest 144,344.03
Smallest 452.29
Average 4,916.22
Median 2,386.28
Top 10 Constituents
Country Mkt Cap
(USD Billions)
Index
Wt. (%)
Sector Sector
Wt. (%)
SAMSUNG ELECTRONICS CO KR 144.34 3.52 Info Tech 20.3
TAIWAN SEMICONDUCTOR MFG TW 104.36 2.54 Info Tech 14.7
TENCENT HOLDINGS LIM(CN) CN 78.18 1.90 Info Tech 11.0
CHINA MOBILE CN 58.70 1.43 Telecom Srvcs 20.5
CHINA CONSTRUCTION BK H CN 54.53 1.33 Financials 4.9
GAZPROM (RUB) RU 51.45 1.25 Energy 11.6
ICBC H CN 46.64 1.14 Financials 4.2
NASPERS N ZA 46.50 1.13 Cons Discr 12.4
ITAU UNIBANCO PN BR 40.04 0.98 Financials 3.6
HON HAI PRECISION IND CO TW 37.37 0.91 Info Tech 5.3
Total 662.12 16.13
Sector Weights
Financials 26.96% Information Technology 17.28% Energy 10.77%
Consumer Discretionary 9.11% Materials 8.75% Consumer Staples 8.25%
Telecommunication Services 6.96% Industrials 6.52% Utilities 3.56%
Health Care 1.84%
8.75%
9.11%
10.77%
17.28%
8.25%
6.96%
6.52%
3.56%
1.84%
26.96%
Country Weights
China 18.34% South Korea 15.56% Taiwan 12.15% Brazil 10.88%
South Africa 7.5% Other 35.57%
7.5%
10.88%
12.15%
15.56%
35.57%
18.34%
Index Methodology
The index is based on the MSCI Global Investable Market Indexes (GIMI) Methodology - a comprehensive and consistent approach to index construction
that allows for meaningful global views and cross regional comparisons across all market capitalization size, sector and style segments and combinations.
This methodology aims to provide exhaustive coverage of the relevant investment opportunity set with a strong emphasis on index liquidity, investability
and replicability. The index is reviewed quarterly - in February, May, August and November - with the objective of reflecting change in the underlying equity
markets in a timely manner, while limiting undue index turnover. During the May and November semi-annual index reviews, the index is rebalanced and
the large and mid capitalization cutoff points are recalculated.